Rebate Robot is a Forex trading robot that was uploaded by Ramil Minniakhmetov to the MQL5 marketplace. It was uploaded on the 1st of August 2014, and has had a lot of updates. The tool was last updated on the 13th of February 2020 and is currently at version 10.0. In this Rebate Robot review, we’ll explain just how this Forex robot works, what it costs, and what users are saying about it.
The Rebate Robot was created for MetaTrader 4 and is designed to allow you to make profits through both forex trading and through rebates. The robot works by opening positions based on the Trader Dream indicators’ current color, it will work in both directions depending on what signal is present.
Some recommendations from the developer:
- You can launch the Expert Advisor simultaneously on all currency pairs.
- Use a broker providing rebates.
- The less the security margin for the locking position, the better.
There are also a number of different parameters that can be used, they include things like initial lot size, maximum lot sizes, lot multiplier, the maximum number of positions, slippage, spreads, take profits, stop losses, trailing stops, and more.
The expert advisor can currently be purchased for $75, this will allow you to activate the software up to 5 times. There is also the option to rent it, this can be done on a monthly basis and will cost you $35 per month. A free demo version is also available, however, this will be limited to using it only on the strategy tester within the MetaTrader 4 trading platform.
There are 104 different user reviews for the Rebate Robot, they are giving the EA an overall rating of 4.5 out of 5.
“I launched the robot 25.01.20 for 3000 cents; today the deposit has been successfully merged, I earned 60 cents on fxcash during this time! 90% drain on a pair of eurusd.” – A 1-star review.
“Running Rebate Robot EA since 64 weeks with recommended settings and pairs. Just manually stopped EA for Summer holidays and Christmas – New Year periods. After 64 weeks total earning 5300$ !! maximum DD by equity 1720$” – A 5-star review.
“Really good EA with rebate strategy. It takes profit from trading and rebating. Need over $1000 fund or your account will have really high risk. And for high rebate use standard account to trade.” – A 5-star review.
The majority of reviews are very positive, the main negative ones are around the account blowing, there are also over 700 comments, the developer has been replying to most of them which are a real positive and show that they are still actively supporting the expert advisor. We would advise you to try the strategy tester and also contact the developer with any questions to make sure that it is right for you before you make a purchase or rental.